Natural gas wave 3 breakout possibility

Natural gas ilooks to be setting up a w3 higher after breaking the .618 and and the B wave …now to break .786 and 1.00 would set up a wave 3 to a target of 590 n change. 

a break of 4754 on June contract sets up the wave 3…

Risk - Reward

Here's my low risk trade today… 

Sugar after a good day on wed is giving it back today but seems to be holding the 1724 area by a point… on the July contract. I'm currently buying this mrkt as I believe the risk is low as my target is above 20.10. 

My Trade today : Buying July sugar at 1732 33 with a stop below 1680. A risk of 1 to make 5.  

We will see how we play out…. 

1-2 1-2 in place? For spx and Dow

All the indices are setting up the same way… just looking at the Dow jones June futures for now though. What may be developing is a 1-2 1-2. The only thing that would invalidate this count would be a push above 16384. ( main count)

The second count is this very well could be the up leg of a wave 4 flat and we have ABC down followed by an ABC up to end around the 16427 area then a 5 wave move down. (For now this is looking like a  1-2 1-2 is in play…). 

Small position short at 16325

Cup of corn

Dec Corn is still looking like a cup and  is getting ready to finish up. a push to 537 dec contract would be the ideal set up before we get the wave 2 handle that would target 471-480 on dec corn.

  It's very possible that we have finished the cup and the handle wave 2 will be next to come.  Anyway I am still looking for much higher prices within the next 1-2yrs. 

Update hard red spring wheat after bottom call on 1/29

Above is my current short term count for red spring wheat. Currently we look to have possibly completed the wave 4 and a push higher in a wave 5. Targets are around the 821 area. This will conclude the wave 1 of wave 3 ,then we need a wave 2 correction to follow in the form of a flat. Let's see if this plays out like I think it will… 

Sugar… more down or are we finished a wave 4?

Sugar looks to finally finishing this triangle wave 4 of the 1st wave higher. A drop to 17.25 is not out of the question but after I am expecting a new high over 19.26 to a possible target of 19.81 after a breakout of the triangle in a 5th wave.